Toast and Jam maker
today reported financial results for its fourth quarter and year ending March 31. The company saw net revenue for the fourth quarter grow 28 sequentially to US$33.8 million from $26.4 million in the preceding third quarter. However, Roxio still reported a loss for the year.
Net revenue for the fiscal year was $120.4 million, compared to net revenue of $142.5 million for fiscal 2002. Pro forma net loss — excluding non-cash charges — was $3.1 million, or $0.16 per basic and diluted share, as compared to pro forma net income of $16.5 million, or $0.96 per basic and $0.94 per diluted share for the prior fiscal year.
Roxio President and CEO Chris Gorog attributed the company’s solid fourth quarter to the launch of Easy CD and DVD Creator 6, which aren’t Mac compatible. The company does, however, make Toast, the popular CD/DVD burning product for the Mac.
Roxio recently reported the acquisition of PressPlay, a Windows-only commercial online music download service previously owned by Sony/Universal. Roxio acquired PressPlay in a deal valued at US$39.5 million, and said that it plans to use PressPlay as the technology basis for a new product to branded under the Napster name — Roxio acquired Napster’s assets late last year. That acquisition will impact Roxio’s financial results for the current quarter.